From Poynter.com:

Gannett’s ongoing pursuit of Tronc and its dominant daily newspapers in Los Angeles, San Diego, Chicago, Orlando, Baltimore and elsewhere follows the industrywide trend toward corporate consolidation of news.

[snip]

The company is likely to find even more room to cut at big metro papers that have more resources remaining than the smaller suburban titles from which Gannett has typically squeezed pennies. And the publicly traded corporation is under more pressure to do so because of escalating bids that drove the price up.

What comes next is up to the reporters and editors likely to be laid off, the communities who rely upon their work and the broader journalism community. A grassroots resurgence of local journalism is already filling the gaps left by many newspaper cuts. This growth will only accelerate as newspapers are consolidated into a few giant national companies focused on quarterly profits.

The news vacuum will be filled by dedicated journalists committed to local, independent, and primarily online coverage.